Document background
The Non-Recourse Promissory Note is commonly used in project finance, real estate, and asset-based lending transactions where lenders agree to look only to specific assets for repayment. This document, governed by English and Welsh law, provides security for the lender while limiting their recourse to designated collateral, making it particularly attractive for special purpose vehicles and project-specific financing. The note typically includes detailed provisions about the pledged assets, payment terms, and explicit limitations on recourse rights.
